Mortgage Calculator

 

The monthly payment mortgage calculator with taxes and insurance estimates the monthly house payment based on the value of the home. The calculator sets default values for property taxes, mortgage insurance (PMI), and homeowners insurance. These estimates may be high or low depending on your location, but can be adjusted in the Advanced section. They are provided to help give you a better sense of your total monthly payments (instead of just the principal and interest payments). The mortgage calculator provides a mortgage amortization schedule that breaks down payments into interest and principal.

Down payment

This is the amount of money you will put towards a down payment on the house. Make sure you still have cash left over after the down payment to cover unexpected repairs or financial emergencies.

Interest rate

This is the interest rate for the loan you will receive. It is pre-filled with the current 30-yr fixed average rate on Zillow Mortgage Marketplace.

Property taxes

The mortgage payment calculator includes estimated property taxes. The value represents an annual tax on homeowners' property and the tax amount is based on the home's value.

Homeowners insurance

Commonly known as hazard insurance, most lenders require insurance to provide damage protection for your home and personal property from a variety of events, including fire, lightning, burglary, vandalism, storms, explosions, and more. All homeowner's insurance policies contain personal liability coverage, which protects against lawsuits involving injuries that occur on and off your property.

Mortgage insurance

Mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price. It protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan. Also known as PMI (Private Mortgage Insurance).

HOA dues

Typically, owners of condos or townhomes are required to pay homeowners association dues (known as HOA fees), to cover common amenities or services within the property such as garbage collection, landscaping, snow removal, pool maintenance, and hazard insurance.

Loan term

This is the length of time you choose to pay off your loan (e.g., 30 years, 20 years, 15 years, etc.)